Crescent Electronics to bounce back with supplier support

Online retailer vows to beat off cashflow misfortunes and plough on with growth plans

Online trader Crescent Electronics has welcomed the support of its distribution partners as it looks to bounce back from a short-term "cashflow issue" and carry on with expansion plans.

The East Sussex-based firm, which has grown to a near-£10m operation since being founded by then 17-year-old Alastair Croker four years ago, has encountered some cashflow difficulties in recent months. But Croker told ChannelWeb his firm has enjoyed the support and understanding of its suppliers and that it continues to trade as usual.

ChannelWeb understands a moratorium is in place to circumnavigate immediate cashflow concerns, and a new financial director has also come on board to help steady the ship. A handful of investors are understood to be considering investment in the company, which has plans to add staff towards the end of the year and expand into mainland Europe in the new year.

Nitin Joshi, founder of ChannelMoney, is confident Croker will come back fighting.

"Alastair is a very gifted individual," he said. "He is the most impressive individual I have met in the channel for more than 25 years. He is highly intelligent and articulate, and his strong points are sales, marketing and technical [expertise]. He has a lot of people supporting him."